Fan funds were developed as one way to provide closer links between various national or regional science fiction fandoms. They achieve this aim by providing the funds for a well-known fan from one country or region to attend a major science fiction convention in another country or region. The funds exist solely through the financial support and generosity of fandom.

Most fan funds are ongoing, with fans competing for the privilege of taking a trip and other members of fandom voting for their preferred candidate. Fund winners become administrators of the fund until the next winner returns from a trip. Fund winners are expected to publish a trip report.